Larry Summers, Obama's Top Economic Adviser, Makes The Case For Another Round Of Stimulus Spending

Larry Summers, Obama's Top Economic Adviser, Makes The Case For Another Round Of Stimulus Spending

Huffington Post | Ryan McCarthy First Posted: 05-25-10 01:20 PM | Updated: 05-25-10 01:24 PM

In a speech yesterday at Johns Hopkins University, Larry Summers, President Obama's top economic adviser, made the case for increased spending to stimulate the economy, arguing that paying down the U.S. deficit in the near term could pose serious economic risks.

At the Atlantic, Derek Thompson quipped that the Obama administration was finally explaining Keynesian economics, and suggested that Summers's speech was part of a larger strategy to reassure those concerned by the $1.5 trillion budget deficit. The Financial Times calls Summers's pitch a case for a "mini-stimulus."

Read rest of post

Posted by Chuck Bell at 3:40 AM